Economic value of international students: Australia

An important issue when thinking of national policies toward globalization of higher education is, quite simply, whether such globalization can provide a positive impact on the economy.  For example, NAFSA estimates that in 2007-2008, international students contributed $15.54B to the US economy. There are, however, many countries that have more actively reached out to international students than has the US.  How have their efforts translated into economic benefits?

Kris Olds at  GlobalHigherEd.com has several posts that look into different aspects of that question.  A recent post looks at recent data on the economic impact on Australia of international students.  The data comes from a report entitled The Australian Education Sector and the Economic Contribution of International Students.  The report shows that the economic impact of international students is very significant, making education the third largest export category earner for Australia.  Olds provides an overview and brief analysis of the data, and discusses the origins of the report itself. 

I have only skimmed the report, but it appears that the economic impact analysis looks only at international students coming to Australia.  The economic impact of the international students being taught at offshore sites of Australian universities is not considered, although this is clearly important for a number of Australian universities.  I also found Table 5-7, which looks at the number of international students who were granted visas to stay in Australia after study to be very interesting. 

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